Norway Savings Bank Sells 52 Shares of The Estée Lauder Companies Inc. (NYSE:EL)

Norway Savings Bank decreased its position in shares of The Estée Lauder Companies Inc. (NYSE:ELGet Rating) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,061 shares of the company’s stock after selling 52 shares during the period. Norway Savings Bank’s holdings in Estée Lauder Companies were worth $1,544,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Estée Lauder Companies in the 4th quarter valued at about $858,734,000. BlackRock Inc. boosted its holdings in shares of Estée Lauder Companies by 13.1% in the fourth quarter. BlackRock Inc. now owns 16,953,258 shares of the company’s stock valued at $6,276,099,000 after purchasing an additional 1,969,898 shares during the period. 1832 Asset Management L.P. grew its stake in Estée Lauder Companies by 238.8% in the fourth quarter. 1832 Asset Management L.P. now owns 1,200,727 shares of the company’s stock worth $445,780,000 after purchasing an additional 846,290 shares in the last quarter. Ninety One UK Ltd increased its holdings in Estée Lauder Companies by 20.5% during the 1st quarter. Ninety One UK Ltd now owns 3,093,432 shares of the company’s stock worth $842,403,000 after purchasing an additional 525,319 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Estée Lauder Companies by 148.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 832,088 shares of the company’s stock worth $305,688,000 after buying an additional 496,952 shares in the last quarter. Hedge funds and other institutional investors own 56.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. The Goldman Sachs Group upgraded Estée Lauder Companies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $298.00 to $303.00 in a report on Tuesday. Piper Sandler increased their price objective on shares of Estée Lauder Companies to $325.00 in a research note on Monday, August 22nd. UBS Group boosted their price objective on shares of Estée Lauder Companies from $266.00 to $289.00 and gave the stock a “neutral” rating in a research note on Friday, August 19th. Royal Bank of Canada lowered their target price on Estée Lauder Companies from $322.00 to $313.00 and set an “outperform” rating for the company in a report on Friday, August 19th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Estée Lauder Companies from $266.00 to $280.00 in a report on Friday, August 19th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Estée Lauder Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of $317.78.

Estée Lauder Companies Stock Performance

Shares of NYSE:EL traded down $5.89 on Friday, hitting $229.02. 1,394,205 shares of the company were exchanged, compared to its average volume of 1,523,283. The company has a current ratio of 1.60, a quick ratio of 1.10 and a debt-to-equity ratio of 0.92. The stock’s 50 day moving average price is $259.47 and its 200 day moving average price is $258.07. The Estée Lauder Companies Inc. has a 1-year low of $225.39 and a 1-year high of $374.20. The firm has a market capitalization of $81.74 billion, a P/E ratio of 36.03, a price-to-earnings-growth ratio of 3.18 and a beta of 0.99.

Estée Lauder Companies (NYSE:ELGet Rating) last posted its quarterly earnings results on Thursday, August 18th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.10. Estée Lauder Companies had a return on equity of 43.78% and a net margin of 13.48%. The business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter in the previous year, the business earned $0.78 EPS. The company’s quarterly revenue was down 9.5% compared to the same quarter last year. Sell-side analysts predict that The Estée Lauder Companies Inc. will post 7.53 EPS for the current year.

Estée Lauder Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Tuesday, August 30th. Estée Lauder Companies’s dividend payout ratio is presently 36.81%.

Insider Buying and Selling at Estée Lauder Companies

In related news, Director Wei Sun Christianson sold 1,056 shares of the business’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $261.52, for a total transaction of $276,165.12. Following the completion of the transaction, the director now directly owns 10,402 shares in the company, valued at $2,720,331.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Wei Sun Christianson sold 1,056 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $261.52, for a total transaction of $276,165.12. Following the sale, the director now directly owns 10,402 shares of the company’s stock, valued at $2,720,331.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Carl P. Haney sold 7,559 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $252.05, for a total value of $1,905,245.95. Following the completion of the transaction, the executive vice president now directly owns 3,296 shares of the company’s stock, valued at $830,756.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,727 shares of company stock worth $10,591,510. Company insiders own 13.95% of the company’s stock.

About Estée Lauder Companies

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The Estée Lauder Companies Inc manufactures, markets, and sells skin care, makeup, fragrance, and hair care products worldwide. It offers a range of skin care products, including moisturizers, serums, cleansers, toners, body care, exfoliators, acne care and oil correctors, facial masks, cleansing devices, and sun care products; and makeup products, such as lipsticks, lip glosses, mascaras, foundations, eyeshadows, nail polishes, and powders, as well as compacts, brushes, and other makeup tools.

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Institutional Ownership by Quarter for Estée Lauder Companies (NYSE:EL)

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